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News Room / Global Cobalt Initiates Further Mine Planning Activities and Program to Develop Deeper Potential of Karakul Cobalt Deposit as a Result of Latest Assays

Global Cobalt Initiates Further Mine Planning Activities and Program to Develop Deeper Potential of Karakul Cobalt Deposit as a Result of Latest Assays

VANCOUVER, BC / ACCESSWIRE / MARCH 12th, 2014 / GLOBAL COBALT CORP. (TSXV:GCO) ("Global Cobalt" and/or the "Company") (TSXV:GCO) reports the most recent results from the Winter 2013 diamond drill program at the Karakul Cobalt Project ("Karakul") that continue to duplicate and support a metal zonation geological model that demonstrates Karakul Cobalt Deposit includes high grade cobalt, high grade copper and higher grading tungsten and bismuth zones than previous work had indicated.

The 2013 results are leading the exploration team to consider the deeper, bulk tonnage underground potential of Karakul and are contributing to a greater understanding of the zonation of metals within mineralised zones. As a result of greater confidence in other metals in the deposit, cobalt equivalent ("CoEq") grades are being reported for the first time at Karakul.

Global Cobalt's team has initiated critical path items such as updated environmental, social and metallurgical studies required for mine planning under Russian subsoil regulations. Global Cobalt has short listed several consultants to complete updates to previously initiated environmental and social studies and hope to announce new contracts in the near future. Planning for additional metallurgical work, including a 750kg bulk sample is underway as part of the 2014 Work Program that will also focus on infill and deep drilling at the Western Zone and more definition drilling along the Eastern Zone where higher grade cobalt zones have been intersected.

"Each release of assay results continues to confirm the validity of the historical drill and technical data but more importantly, we are gaining an understanding of the unique high grade sections for each metal group within the Karakul Cobalt Project which is key as we initiate on mine planning activities," said Erin Chutter, CEO of Global Cobalt.

Paul Sarjeant, V. P. Exploration commented, "We have received most of the drill results from the lab and are currently processing the data. We will be releasing the results from the final drill holes over the next few weeks. At that point we will begin working to complete geological modeling and from that the resource model will follow. Based on results to date we are excited to advance development at Karakul."

These new results below, along with qualitative narrative are organized geographically and their locations are illustrated on the accompanying map.

-Drill hole 216 successfully intercepted mineralisation from 237.1m to 242.0m and correlates well with the location of the main mineralised zone identified in KK136. The deepest intercept in drill hole 216 is approximately 220m below surface.

-Mineralisation remains open to depth.

-Results appear to confirm interpretation of mineralised zones.

Sample Preparation and Analysis

All drill core was logged, photographed and cut in half with a diamond saw. Half of the core was bagged, numbered and sent to Stewart Geochemical and Assay (a subsidiary of ALS Global) of Moscow, Russia. All samples were first analysed using ICP-MA technique that reports cobalt, copper, bismuth and tungsten in parts per million (10,000 ppm = 1%). Any samples reporting greater than 2,000 ppm cobalt or bismuth and any samples reporting greater 10,000 ppm copper were then assayed by ICP-ORE methodology. Samples reporting greater than 2,000 ppm tungsten were then assayed using the ME-MS61 method and reported as WO3. The results were verified by the application of industry standard Quality Control and Quality Assurance (QA-QC) procedures including laboratory internal duplicate sampling.

* Note: Lengths quoted represent core lengths and do not necessarily represent the true thickness of mineralised intervals. Samples were analysed by Stewart Geochemical and Assay

Global Cobalt Corporation is a Canada-based strategic metals company focused on the development of a new mining region in the Republic of Altai. Global Cobalt will build upon the success of the Altai Projects while aggressively expanding and exploring existing properties to meet the demand for cobalt and other strategic metals.

Cautionary Statement on Forward-Looking Information: The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The shares offered will not be and have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.

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